The Town of Collingwood completed its purchase of a downtown property across from town hall.
In an announcement today, the town confirmed it purchased 84 Hurontario St. for $1.7 million, and will issue a charitable donation receipt for $100,000 to the seller, Mon Desir Canada Inc.
The deal was approved by council after a closed meeting on Aug. 18, but wasn't finalized until Oct. 28.
The vacant property was the site of a proposed development, known as the Regent, for 12 condominium/apartment units and ground floor commercial space plus underground parking. The development did get site plan approval. However, the property went up for sale earlier this year.
According to a town news release, the Downtown Collingwood Business Improvement Area (BIA) board approached the town with a suggestion the town purchase the property at 84 Hurontario St. The property currently links the downtown core to the Pine Street parking lot where the BIA hosts the farmers' market in the summer and early fall.
The town has not committed to any specific plans for the land.
In the town's news release, Mayor Keith Hull stated the property was "valuable for the future of our vibrant and historical downtown."
The next council will be tasked with deciding what to do on the land, in the meantime, the town will work with the BIA to clean the site and "activate" the spot until a final decision is made, according to the news release.
